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[July 2002]
Stronger Operating Performance from Siam Cement Group
On 31 July 2002 The Siam Cement Group - parent company of Cementhai Ceramics Co Ltd, whose major product groups are 'COTTO' ceramic tiles and the 'COTTO' and 'TOTO' sanitaryware brands - announced exceptionally stronger operating performance for the second quarter of 2002, citing significant improvements in domestic demand in most of its businesses.Siam Cement PLC President, Mr Chumpol NaLamlieng, disclosed the unaudited consolidated financial statements, which showed total revenue of 34.478 billion baht, similar to that for the same period of the previous year.
The Group reported operating profit before extraordinary items of 3.495 billion baht, an increase of 61% from the previous quarter. Compared to the same period in 2001, operating profit before extraordinary items jumped 335%.
Net profit for the Group in Q2 2002 increased dramatically to 3.514 billion baht, an increase of 52% from the previous quarter and an increase of 49% compared with Q2 2001, despite huge gains on investments and assets sold in that prior period.
For the first six months of 2002, the Group reported total revenues of 65.820 billion baht, down by 3% when compared to those of last year, which included revenues from the now divested non-core businesses. The slight fall was also affected by the intense cement price war and the volatile pricing of petrochemical products in the first quarter.
Net profit for the first half of 2002 was 5.834 billion baht, compared with 5.236 billion baht in the first half of 2001, up 11%.
Unaudited total assets of the company and subsidiaries as of 30 June 2002 amounted to 230.666 billion baht.
ENDS